SALT LAKE CITY — PGIM and Dakota Pacific Real Estate have formed a joint venture to develop a six-building industrial project on two recently acquired land parcels near Bangerter Highway along California Avenue and 4400 West in Salt Lake City. Construction will immediately commence on the speculative development, totaling nearly 450,000 square feet, including dedicated yard space. The project is designed as modern small- and mid-bay industrial product with initial deliveries slated for early 2027. Big-D Construction is serving as general contractor and managing construction of the project. JPMorgan Chase Bank is financing the development. Kyle Roberts and Ben Richardson of Newmark represented the seller, while Newmark’s Lucas Burbank represented the joint venture in the land acquisition. Burbank and Kelsie Akiyama of Newmark are overseeing leasing efforts for the development.
